CHAPTER 1

INTRODUCTION

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1.1 Background

This report has been assigned to me by my advisor Prof Mojib Uddin Ahmed with a view
to having an in depth understanding of the topic. I have worked in Travel Memoria Ltd. As
an intern and I have got vast opportunity to learn about the recruitment and selection process
which is also the major concept human resource management. Travel agency is a retail
business that sells travel related products and services to customers on behalf of suppliers
such as airlines, car rentals, cruise lines, hotels, railways, sightseeing tours and package
holidays that combine several products. In addition to dealing with ordinary tourist most
travel agencies have a separate department devoted to making travel arrangements for
business travelers and some travel agencies specialize in commercial and business travel
only. There are also travel agencies that serve as general sales agents for foreign travel
companies, allowing them to have officers in countries other than where their headquarters
are located. The industries that are involved in producing goods and services which help
tourist are called tourism industry, like other types of industries. This industry is also
expanding rapidly.

1.2 Objective of the study

It is the primary project on “Travel Memoria Roles and Importance in tourism industry”. The
main objective of this report is to identify the importance of activities and their impact and
result for this company and in tourism industry.

General Objective:

Obtaining knowledge of the research and development program undertaken by the company to
boost up the travel agency business to improve the company performance. And finally,
acquiring real scenario of the total value chain process and making analysis of deviation and
required improvement accordingly to prolong the industry. To find out any problem or not is
also an important issue here.

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1.3 Methodology

The study was conducted using the participatory method as I was working as an intern in this
company. To know the in-depth information, the topic was discussed with the expert
professionals related to the company for several times and other related secondary information.

Data Collection method:

Data have been collected from two sources. These are as under:

 Primary source

 Secondary source

The primary source of data includes the following:

• Face to face conversation with the project manager of travel memoria ltd.
• Working and handle some selection procedure.

The secondary sources of data include as under:

• Text book
• Relevant web site links

1.4 Literature Review:

The tourism industry has undergone rapid growth of unsurpassed nature over the last several
decades. This has mainly been due to the advent of a 'borderless' world and increased
information dissemination about the majestic sceneries throughout the world. People want to
travel according to their culture. But this is the period of globalization. So, Travel Memoria has
to cope with this. People want to know other culture. Because of that, travel agency makes a
great opportunity for people. That’s why many travel agencies have been built for providing
ticketing and tourism services to local people. The current trend towards an increase in the
number of tourists entering the country presents an opportunity for travel Memoria to penetrate
the market. An opportunity for travel Memoria success exists because the national tourism
industry is growing at a rapid pace annually. travel Memoria is poised to take advantage of
this growth and moderate competition in the city travel portion of the industry, with a dedicated
and experienced staff, excellent networking, and effective management and marketing. travel
Memoria intends to provide travel and adventure packages to local people & tourists primarily
in the abroad & as well as Bangladesh. Services and products provided by Travel Memoria will
initially include Air ticketing, pre-arranged tours, custom packages according to client’s

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specifications, travel consultation, and as time progresses making reservations for lodging
amongst other related services. Usually, people don’t go the abroad daily. In spite of that, this
business is very profitable. That’s why they want to know how travel agencies operates their
business in Bangladesh and as well as what were the Marketing strategy in Bangladesh.

1.5 Limitations

As nothing is perfect, I also faced some difficulties during preparing the report. However, I
have tried to complete my report except that information. The limitations are as following:

• I get short time to prepare my report.

• Sometime the management teams were not comfortable to give the information
as they consider it as confidential.

• Every Employees are busy with their exertion, so that’s why most of the time
the disagree to answer the question.
• Large-scale research was not possible due to very less time target.
• Non-availability of data in a systematic way.
• Non-availability of the reference book is another limitation.

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 CHAPTER 2
TRAVEL MEMORIA LTD. PROFILE

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2.1 Travel agencies in the 21st century

A travel agency is a private retailer or public service that provides travel and tourism related
services to the public on behalf of suppliers such as activities, airlines, car rentals, cruise lines,
hotels, railways, travel insurance, and package tours. In addition to dealing with ordinary
tourists, most travel agencies have a separate department devoted to making travel
arrangements for business travelers; some travel agencies specialize in commercial and
business travel only. There are also travel agencies that serve as general sales agents for foreign
travel companies, allowing them to have offices in countries other than where their
headquarters are located.

2.2 Travel Memoria travel Related Services.

Travel Memoria Ltd. a familiar name in the travel and tourism sector of Bangladesh is engaged
in the healthy growth of travel trade in the country. It is run by a team of young and energetic
professionals fully conversant with modern day's travel trade and its practices, which have
background with various reputed Airlines and travel Agencies.
Travel Memoria Ltd. an IATA accredited Travel Agency in Bangladesh. The office of Travel
Memoria Ltd. is centrally located in the hub of Bijoy soroni commercial area, within close
proximity of major Airline offices in Dhaka. The office is well appointed with the internal and
external communications, being effectively maintained by telephone, fax, internet, computer
networking and computer reservation systems (CRS) to meet up the demand of our Clientele.
The company, one of the units in a group is based on a solid foundation with multi-discipline
business experience, such as travel and tourism, IT sector, software developing, hotel
reservation, campaign organizers etc.

2.3 History

Travel Memoria adopted as the company’s brand name that reflect the symbol of commitment
and standard of excellence in travel area in Bangladesh. It started their journey on 1 st January,

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2010, with fifteen energetic people. First they do their business on event management. But after
some years they concentrate on travel related services.

2.4 Vision

To be the market leader in terms of international standard service and ensure maximization of
the potential customers to increase the sales volume.

2.5 Mission

To focus on the customers’ demand and ensuring quality through Good Servicing Practice
(GSP) and by using extensive promotional activities to achieve the goal of monopolistic market
leader in travel and tourism sector and recreation sector.

2.6 Goals

 Incorporating latest technology and quality service to improve quality at all

times.
 Give adequate emphasis on public relation to build image.
 To add at least one additional service in each year.

2.7 Objective

 To diversify market portfolio across the country according to the market demand
and situation.
 To increase market awareness as well as sales by persuasive promotion based
strategies.

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  Maintain a constant growth rate.
 To market the famous tourist destinations.
 Maintaining the quality of the market through continuing monitoring and sound
management

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2.8 Product and services offering

Hotel reservation

Being a unique travel house in Bangladesh, Travel Memoria boasts a wide variety and an
abundance of accommodations both locally and internationally.

Air Ticket

A rendezvous of professionals with decade of airline background Travel Memoria boast in

its ability to provide best possible travel consultancy what is ‐ until recently was unknown
to the trade.

Visa Assistances

Travel Memoria provide a professional consultancy to ease visa application. Putting priority to
provide accurate and necessary information for a successful visa application Travel Memoria
success rate has been over 80%.

Car Rental
Travel Memoria for the first time have come forward with a distinct facility to make the ground
transportation in Bangladesh. Working with the best Bangladesh car rental suppliers with the
guaranteed services in Dhaka, Sylhet, and Chittagong that we believe to be unparallel and
represents the international standard.

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Meeting Incentives Conference & Exhibition
(M.I.C.E.) Management

Successful Meeting, Incentives, Conference and Exhibition. All the relevant logistics are
arranged by it, a unique travel house in Bangladesh. From this they also give consultancy
services. Other related services are:
• Airport Transfer
• Excursion
• Rail‐bus‐steamer ticket
• Half a day city tour
• Meet and assist service

2.9 Promotional strategy of Travel Memoria Ltd.:

The promotional strategies of this company are reviewed each year in consultation with their
advertising agents and media buyers. On their recommendations a themed campaign is devised
and appropriate media selected. There is a limited budget available for such campaigns, and
since television advertising is not usually possible within their budget, in past years the choice
has been to use the following media:

• Poster advertising
• Press advertisements
• Smaller posters for distribution
• Their own web site.

Below-the-line

Secondary promotional activity is administered by their own marketing people and website.
This involves:

 Distributing printed leaflets and posters to tourist offices, libraries, language

schools, hotels, coach operators, museums and galleries in different areas in
Dhaka.
 Discount vouchers for joint promotion with other tourist attractions, tour
companies, hotel groups and on consumer on-pack and magazine promotions

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  Paid advertising in trade journals and some local papers announcing special
deals and featured events
 Exhibition stands at trade shows for group organizers and travel operators

Press
Basically it gives advertisement about their service through newspaper which also covers these
areas:

 Keeps national and international media informed of all developments at the

Museum sites
 Responds to media requests
 Develops new media contacts by special invitation, press launches and
hospitality. They also work in association with the press departments of
Bangladesh Parjatan Corporation (BPC) and the national and regional tourist
boards to host incoming foreigners as well.

2.10 Tourism Marketing and Promotion Strategies for Package Tour

Promotion a key method to spread the word about tour packages to customers, stakeholders
and the general public. Once a tour operator identifies their target market, they gain good idea
of the best way to reach them. It uses a mix of advertising, personal selling, sales promotion
and public relations to promote tour packages.

Advertising

Advertising is a form of communication designed to persuade potential customers to choose

tour packages over competitors. Success of advertising depends upon how tour operators
making their package know to visitors. It should be a planned, consistently with the activities
that can keep the name of package in the mind of the consumer. These are the following key
strategies adopted for package advertising.

➢ Make a tour package most familiar to visitors

➢ Create goodwill and build a favorable image of company.
➢ Attract customers to find out more about tour package.

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Personal Selling

Selling is the exchange of goods or services for an agreed sum of money. Following situation
can be understood for personal selling:

➢ Identifying need and want of tour packages in market which afford to pay by visitors.
➢ Creating contact with visitors by phone, email or in writing etc.

Making presentation and demonstration about the tour package in order to convince
potential visitors for a holiday.

Sales Promotion

Sales promotion includes short-term incentives or activities that encourage the purchase or sale
of a package. It should target toward final buyers (consumer promotions), business customers
(business promotions), retailers and wholesalers (trade promotions) and members of the sales
force (sales force promotions). Some sales promotion activities for tour package are as follows:

➢ Point of purchase display material like poster, banners, broachers etc.

➢ Competitions, coupons and games
➢ Loyalty reward programs
➢ Seminars and workshops about the packages
➢ Conference presentations
➢ Telemarketing and direct mail campaigns
➢ Newsletters
➢ Event sponsorship
➢ Capability endorsement
➢ Reward incentives linked to purchases or sales
➢ Reseller staff incentives
➢ Commissions

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Public Relations

Typical PR tools include:

➢ Media releases: news creation and distribution

➢ Special events: such as news conferences, grand openings and product launches
➢ Speeches and presentations
➢ Educational programs

➢ Community activities and sponsorships

2.11 SWOT Analysis

1. Strengths:
 Group image: It can easily attract the job market.

 Skilled manpower: Skilled manpower creates the job environment

professional that leads a systemic and efficient organizational structurally.

 Latest technology: Latest technology makes organization more effective

and systematic. So every task can be managed so smoothly.

 Wider distribution network: Wider distribution network gives the

employee better opportunity to explore their quality and knowledge and
open the door to be more professional in the business community.

 Foreign consultants: Foreign consultant solve of the problem of lack of

expertise in different sector, which gives the organization a proper
professional image.

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2. Weaknesses
 They have only two department financial department and marketing department.
 They have lots of clients but some managerial problem they have the tendency to lose
them
 No employee training and development center.
 Comparatively low investment in increasing different operations.

3. Opportunities
It has a scope of expansion their business in Chittagong and cox’s Bazar, as it has
become the tourist hub in Bangladesh
 As this company is very much successful in tours and travels, it can easily joint
venture with other local or international travel company to give better services.
 The government of Bangladesh is giving immense support on developing
tourism sector and offers various packages, loans, investment on this sector. So It
has an opportunity to grab it.

4. Threats
A) The unstable situation of Bangladesh that greatly harm the tourism sector.

b) Sometimes less interest of foreigner to come in Bangladesh

c) Now-a-days many companies are doing good business in tourism sectors in

Bangladesh.
d) Other new travel agencies are emerging with new spark power.

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 CHAPTER 3

JOB AS AN INTERN

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3.1 Specific responsibilities of the job

A) Assist my director to give her different information. Here, I have received client calls, offer
different service of my company and inform this to my director.

B) Handle the vacancy applications means select the applicant for offering interview according
to their CGPA and experiences.

C) Take observation part on vacancy interview means in selection board when job interview
arranged, I was there to put mark on their discussion

D)Handle day to day data sources transaction.

3.2 Different aspects of job performance

Information Technology Department:

I have worked in IT department of it. They use different software and tools to handle the whole
air ticketing process. This also make the employees life easy.

Customer service:
This department plays very important role in the organization. Here employees handle their
customers and fulfill their need.

3.3 Critical observation:

Travel Memoria Ltd. Is well reputed travel house in Bangladesh? But I have found some critical
point that need to be notice and implement the proper steps. Which are:

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  According to their services it is quite small organization.
 There have less emphasis on managers or subordinate decision making. All the
decisions are done by managing directors.
 All operation of the company is based on networking and information
technology based which sometimes break down and hamper the work.

the preferred applicant resigns from the position within six months of the appointment The
delegate may exercise discretion as to whether the position be filled from the existing order
of merit for that or a similar position, or re-advertised. Vacancies may be advertised across
a range of no more than two classification levels.

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 CHAPTER 4

THE ROLES AND FUNCTION OF TRAVEL MEMORIA

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4. Function of travel Memoria

There are more than a dozen functional or operational areas that directly and indirectly
determine by Travel Memoria the quantum of business that a travel agency or tour operation
firm manages for profit as well as customer satisfaction. In this lesson, major functions of
Travel Memoria includes travel information, booking tickets, itinerary preparation, designing
of tour packages, travel documents, insurance, foreign exchange, franchising, conducting tours,
marketing and publicity, research and development, training and development, etc. Table
presents the functions of travel agency briefly.

The functions of Mravel Memoria:-

1 Provision of Travel Information Places of Tourist Interest, Connectivity, Climate
Culture, Customs, Currency, Health and Security
Checks Permits and Immigration

2 Market Research & Package tours

Development Destinations and Attractions & Other Services
Market Study, Customer Purchase Behavior

3 Reservation of Tickets Airlines, Railways, Buses, Passenger Ships.

4 Reservation of Hotel Rooms Hotels, Resorts, Motels.
5 Reservation of Ground Services Cars, Coaches, Caravans, Entertainment Entries,
Guides, Interpreters

6 Selling Cruise Package Linking with Small Retail Agents, Negotiating

Commission with Cruise Company

7 Preparation of Itinerary Collection of First-hand Information

8 Costing Package Tour
9 Designing of Package Tour
10 Conducting FIT, GIT & FAM
Tour
Estimation of Fixed and Variable Costs
Assembling All Elements of Services
Uploading Services to Ground Operator
Issue of Exchange Order to Clients and Service
Providers
Collection of Feedback and Release of Final
Payments
Participation in FAM Tours

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 11 Promotion & Publicity Marketing, Sales Promotion and Publicity
12 Reservation and Cancellation Booking Rooms, Airlines, Train and Coach Seats
13 Management of Ground Uploading Responsibility to Ground Operator
Services
14 Travel Documents Handling Enquiries, Counseling, Travel and
Destination Information Passport,
VISA

15 Preparation of Annual Cost Estimation

Budget Allocation of Budget to Different Departments
Management of Finance and Accounts

16 Corporate Social Corporate Social Responsibility

Responsibility towards stakeholders, clients, community
and quality ethics

17 Training and Manpower Planning, In-house and Outhouse

Development Training

18 Maintaining Relationship With Members of Trade Associations

Tourism Ministry

19 Travel Insurance Personal, Baggage, Travel Break-up, Accidents,

Insolvency

20 Currency Exchange Transaction of Buying and Selling

Renewal of Authorization, Maintenance of Stock of
Currency

21 Operation of MICE Meetings, Incentive Travel

Conferences, Conventions, Exhibitions, Seminars
Symposiums

22 Disaster Preparedness Contacting Police and Disaster Rapid Action Force

23 Use of Information Technology Hiring IT services and Purchas of Latest IT Gadgets

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4.1 Provision of Travel Information

Information is an essential function of travel agency and tour operation. An information seeker
can become a customer to buy package tours when detailed information is given to customers.
Information must be clear and it must describe the places of tourist interest pertaining to
climate, accessibility, amenities, facilities, activities, people, culture, etc. More particularly,
tour brochure contains description with images about the places, hotels, transports and other
inclusive services. Travel Memoria provides information free of cost through telephone and
internet.

4.2 Market Research and Development

Tourism is a new generation business and many entrepreneurs find it challenging to be

successful in their business ventures. Customers are more informative about the new
destinations and information is readily available on the fingertip. Travel products are now
becoming more competitive and customers have more bargaining power in the marker. So
much innovation has taken place in package tour business. In view of the fast changing market,
Travel Memoria do has any choice other than selecting the ways of resorting to research on
customer satisfactions various parameters of services and the quality of destinations. Thus,
research and development activities are carried out continuously for exploring new
destinations, events or attractions and assessing the effects of package tours.

Research work is done by Travel Memoria on trends of market, itinerary, elements of services
in package tours, customer preference, branding and costing of products. Large tour
wholesalers are committed for research work and field-based study for assessment of products.
It is the tour wholesaler that shows interest in research and development work. Research helps
in the innovation of travel products.

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4.3 Reservation of Tickets

Travel Memoria operators sell a variety of products but reservation of tickets is still one of their
sources of revenue. Reservation of airlines tickets, railway tickets, cruise lines and bus tickets
can be done either at agency counters or through reservation engines available online these
days. In the recent years, the scenario is slowly changing and online Travel memoria especially
is selling tickets online.

4.4 Reservation of Hotel Rooms

It includes type of hotel, room, facilities and services, meal plans, tariff and seasonal offers.
Travel Memoria gives wider options to customers to search, compare, chose and finally book
a room of their choice. Online booking can be done with the online transfer of payments through
internet banking or debit/credit cards upon the arrivals.

4.5 Reservation of Ground Services

Ground handling operators of destination management operators have the sole responsibility of
providing cars, coaches, caravans, entertainment entries, guides, interpreters etc as per the
contract or exchange order of the principal agents. Travel Memoria selects the ground operators
by taking several factors into considerations. Notably, the past track record for operating the
services is assessed before uploading the services.

Special Services are as follows;

➢ A detail feasible plan is prepared Travel Memoria to select the destination and options
are given to the customer to select as per their preference.

➢ Arrangements are made by it to take the team to do destination inspection and

familiarization. It helps the overseas tour operator gain confidence after studying the
facilities at the destinations.

➢ Hotel selection and reservation is taken into consideration by this agency when charter
tour clients are largely affluent class tourists. Transfers and sightseeing are also
organized as per the itinerary and any change in the program is not permitted.

➢ This agency prepares it plan on the demand of clients.

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4.6 Selling Cruise Package

The business of cruise lines is growing unlike air ticketing in case of revenue maximization.
The new-age travelers wish to have experience of cruise line and it has become affordable for
lower middle-class person. It has limited scope for it. Travel Memoria has identified cruise
packages to prospective clients as more lucrative.

4.7 Preparation of Itinerary

Itinerary is an important exercise that Travel Memoria engages senior executives to design in
a methodical way. Itinerary reflects the nature of tour, types of services and duration of tour.
Package tour is operated as per the descriptions and instructions in itinerary. Tour operators
make full-proof survey of the places of tourist interest, facilities and amenities etc before
finalization of itinerary. In brief, the sale of package tour is determined by itinerary and
program. The process gets initiated two or three years before the launch of package tour in the
market. It involves collection of information related to the duration of stay at a particular
destination and check-in and check-out time.

4.8 Costing Package Tour

Costing is an important activity of Travel Memoria while developing package tour. It includes
variable and fixed costs. Itinerary preparation and costing go together. It takes all precautionary
measures to reduce the cost that helps in maximizing profits and passing benefits to customers.
Thus, It goes for bargaining and negotiating with primary service providers for best possible or
competitive rates. it is a key function of Travel Memoria to do costing systematically to
optimize the benefits from the available resources.

4.9 Designing Package Tour

Gone are the days when there was no market for package tour and customers used to take one
or two elements of services from travel agents. Today, there is a huge market for organized
inbound, outbound and domestic package tour market.
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Thus, Travel Memoria now devoting its full resources for developing innovative package tour
as it is the business of tour operator to generate revenue as compared to traditional ticketing
business. Expert and experienced executives are assigned the work of developing packages for
different segments of customers. In order to design attractive package tour, tour operators
ensure for good itineraries, familiarization trips, feasibility of itineraries. It is followed by
package tour designing, costing and promoting package tour directly. It is an important function
as it earns maximum profit for Travel Memoria.

4.10 Conducting FIT, GIT and FAM Tour

Travel agency is more particular about the operation of FIT, GIT and FAM tour in a
professional manner. Developing an appealing package tour does not end the responsibility of
it rather responsibility increases for conducting tour for individual and group travelers. It
requires different types of ground arrangements for FIT traveler as compared to GIT travelers.
Tour manages, travel associates, interpreters, arrangement of guides, processing of travel
formalities are some of the issues to be taken care of.

4.11 Promotion and Publicity

Marketing and publicity of tourism places of interest is an important function of Travel

Memoria. It designs tour packages and sells directly to customers. Marketing is a key function
that it earmarks budget to spend on advertisements, sales promotions and publicity.

There are various marketing strategies through which Travel memoria achieves the sales target.
It generally takes the help of print and tele-media for marketing and publicity of tour packages
and individual components. It gives advertisements in local newspaper and social media to
educate the potential buyers of package tours, safari tour, etc. Publicity is a promotional method
that Travel Memoria prefers to popularize the products with minimum costs.

4. 12 Reservation and Cancellation

Reservation and cancellation are two important functions of Travel Memoria. Booking of air
and bus tickets and hotel rooms is the primary activity of it. There are systematic procedures

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for making reservation of rooms and airline seats. Reservation registration form is filled
manually and electronically and gets it sent to hotel or airline for reservation. The procedures
for cancellation of reservation of rooms and tickets are followed as per the agreements Online
payment through internet banking or debit/ credit cards is also made available here.

4. 13 Management of Ground Services

Travel Memoria sells domestic and outbound package tour and conducts sightseeing as a
ground operator. It is hardly to see an independent ground operator which exclusively deals
with services at destinations. It also provides the services as ground operator at important port
of entry of inbound traffic into the country.

4.14 Travel Documentations

Travel documentations are processed for FIT and GIT package tours. Travel documents include
processing of passport, visa and health certificate along with currency endorsements before the
commencement of tours. The most important task is to follow the issue of visa from Consulate
Offices. It takes time to get the VISA clearance from the embassies. As far as tourist visa is
concerned, there is no much hassle to get visa processed when it is pursued by tour operator.
Visa is an endorsement on a passport indicating the holder is allowed to enter, leave or stay for
a specified time period in a country visited. Health certificates, vaccination, insurance, foreign
currency and restricted area permits are also processed much before the commencement of tour.
All these formalities are managed by Travel Memoria to help customers or member of GIT and
FIT travel comfortably.

4.15 Preparation of Annual Budget

Financial management of Travel Memoria is an important function. Tentative income and

expenditures statement is prepared to ascertain the company’s financial position. Budgeting for
different activities is prepared taking different business diversification plan into consideration.
In case of a multinational company with branches across the countries, each branch submits the
annual income and expenditures to the office and it is finally consolidated and submitted to the
Corporate Office for preparation of annual budget. It approves annual budgets in the apex level

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meetings. Without proper budgeting and sufficient allocation of funds, it is difficult to find the
growth of business in a given financial year.

4.16 Corporate Social Responsibility

Ethical and fair-trade, responsible, pro-poor and sustainable tourism aims to provide maximum
protection to local ecology and environment. These tourism philosophies teach best practices
to Travel Memoria to follow and contribute to local destination and community. Tour operators
share the revenue for helping educational empowerment or social welfare. The concept of
Corporate Social Responsibility (CSR) is explained as a social obligation on the part of a firm
or organization towards the welfare of communities. Thus, the role of travel firms through CSR
stands vital to travel industry.

4.17 Training and Development

Travel Memoria deals with intangible and perishable aspects for which the job of qualified and
skilled human resource is needed to provide services. In the past, training and development was
not given due importance as it was run by members of family. Travel agency was a family
business and different attributes were generally inherited from the senior members of family.
Many small travel agencies have become large business enterprises with more branches and
diversified business. Travel Memoria is now visiting for on-campus placement to tourism and
travel management institutes. In-house training is conducted for the employees with help of
professional trainers or senior executives. Senior managers or executives are also sponsored to
participate in Management Development Program (MDP). Training curriculum highlights on
the improvement of soft skills and product knowledge and the MDP imparts on strategic
business decisions. For example, BTB is an autonomous body of Ministry of Civil Aviation
and Tourism, Government of Bangladesh and it designs different courseware for industry
executives from travel and tour operation. It includes ticketing and tour operation, cargo and
travel agency management.

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4.18 Maintaining Relationship with Tourism Ministry

Various operations and activities of Travel Memoria is regulated and supported by the National
and State Tourism Organizations. As per the guidelines of Tourism Policy, a travel agent or
tour operator must be an enlisted and recognized business firm or enterprise to run the business.
The Ministry of Civil Aviation and Tourism also provides links to recognized travel agents and
tour operators in the official websites. At the same time, it encourages them to take part in
familiarization tour and exhibitions within the country or abroad.

4.19 Membership of National and International Travel Organization

Memberships of different travel and tourism bodies provide much exposure to the members in
annual conventions and meetings. Apart from using the logo in letter head, signboard and
websites, it helps the members meet foreign and domestic travel agents to initiate new business.
Travel Memoria has usually become the active members of Pacific Asia Travel Association
(PATA).

4.20 Travel Insurance

Travel insurance is a new business area that constitutes an attractive source of revenue.
Customers are much aware of safety of their travel and compensation of package tour. There
are attractive insurance schemes introduced by insurance companies to take care of life and
package tour insurance. Premiums for these two purposes are added into the cost of package
tour or sometimes it is excluded from the cost of package tour. Typical travel insurance may
cover insurance for life, accidents, medical treatment, baggage loss, trip cancellation and
similar losses.

4. 21 Currency Exchange

All outbound and inbound tours need authorization from Bangladesh Bank (BB) to do the
transactions of receiving and paying through different foreign currencies like US Dollar, UK
Pound, Euro, etc. A minimum commission is charged to customers as Bangladesh Bank rules.

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4.22 Operation of MICE

Event management is today a completely professional business. Organizing seminar,

conferences, conventions and exhibitions is also being undertaken by travel agencies and tour
operators apart from their regular travel services though there are specialized event
management companies for handling such events and programs. It may be noted that most large
travel firms are now offering exclusive Meetings, Incentive travel, Conventions/ conferences
and Exhibitions (MICE) packages which are handled by their MICE divisions.

4.23 Disaster Preparedness

Due to growing uncertainty about natural and manmade disasters such as floods, earthquakes,
tsunami, accidents, fires, stampedes, terror strikes and others, disaster preparedness is the most
inevitable function of Travel Memoria. Safety and security of visitors is prime responsibility
of the operators and they should be prepared to handle any such disasters. A team of
professional is trained to handle such incidents and avoid any harm to their clients to a great
extent. They also coordinate with the local disaster management teams to face any such
challenges.

4.24 Use of Information Technology

Information technology has become an enabler for the growth of the travel agency and tour
operation business. Travel agencies have no choice but to adopt new technologies to maintain
quality standard of services. Travel Memoria is automated to deal with the clients. It enables to
optimize productivity with the extensive use of technology. The modern gadgets include
telephones, fax, electronic mail, photocopiers and computers as essential communication
equipment for travel information. Proper use of communication technology can reduce time
and costs. The staff members are selected on the basis of their adequate computer skills in this
agency. The implementation of the MIS system can identify the problems and hence, it can
generate and evaluate the alternative course of actions after collecting the necessary feedback.
For example, the e-ticketing is a global phenomenon to earn commissions on ticketing.

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 Travel Memoria has been doing several traditional and modern business functions to
diversify the business. The objective is to directly and indirectly expand the quantum of
business. The major functions of travel agencies and tour operators include travel information,
booking tickets, itinerary preparation, designing of tour packages, travel documents, insurance,
foreign exchange, franchising, conducting tours, marketing and publicity, research and
development, training and development, etc.

4.a Linkage of profit sharing of travel Memoria

The emerging sources of revenue are generated from MICE activities, travel counseling, online
booking and consultancy services to corporate houses. In the cut-throat competition,
specialized services are given much care so as to keep maintaining the level of profit even
during the off-season.

The amount of profit is a direct function of a travel agent’s capacity to make negotiations with
the primary service providers for special rates or commissions for the bulk sale. Figure
illustrates about linkage of profit sharing through various transactions between travel agents
and tour operators and primary service providers.

Linkage of profit sharing between tour operators and primary service providers

Bookings, Cancellation, Revenues, Performances

Flight Times, tariffs, Availability, Commissions, Confirmations

Information
Airlines Information
Revenues& Travel
Information
Tour
Agents
Operators Revenues&
Information Information
Hotels
Revenue

Location, Room Availability, Rack Rates, Commission levels

Information & Commission

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 There are varied sources of revenue of a travel agent and tour operator to maximize
given the capacity of resources. These are the following conventional as well as emerging
sources of revenue earnings in the travel agency and tour operation business.

Travel agents and tour operators cannot do away with the ticketing business even though
airlines have curtailed the rate of commission. Some airlines have even abandoned the
traditional commission and reintroduced the flat commission on the total sale of tickets. It is
however proved that online travel agents cannot overpower the so called street corner travel
agents due the nature of travel and tour business. All online travel agents have authorized travel
agents to maximize the sale of tickets.

4.b The role of travel agency (Travel Memoria):

A travel agency's main function is to act as an agent, selling travel products and services on
behalf of a supplier. Consequently, unlike other retail businesses, they do not keep a stock in
hand. A package holiday or a ticket is not purchased from a supplier unless a customer requests
that purchase. The holiday or ticket is supplied to the agency at a discount. The profit is
therefore the difference between the advertised price which the customer pays and the
discounted price at which it is supplied to the agent. This is known as the commission.
Traditionally, travel agencies' main source of income is, commissions earned for bookings of
car rentals, cruise lines, airlines, hotels, railways, sightseeing tours and package tours. A fixed
percentage of the main element of the price is paid to the agent as a commission. A reservation
is a request made to any supplier for a particular service (i.e. ticket, hotel room). All reservations
are subject to availability. A confirmation is a written reply from the supplier that the
reservation for a particular service is accepted and will be delivered to the client by the supplier
. Travel agency's main function is to act as an agent selling travel products and services on
behalf of a supplier unlike other retail businesses they do not keep a stocking hand. They sell
the inventory got on discount and acquire profit, include the sale of in house insurance, Travel
guide books, timetables, car rentals, and dealing in the most popular holiday currencies

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4.c Challenges of the Travel Memoria

The distribution cost of airlines moves around 15 per cent to 19 per cent. Traditional airlines
have adopted the reduction of distribution costs. Airlines have negotiated with the GDS
providers to reduce booking fees and decide the travel agency commissions from Ministry.

Airlines have almost closed the city booking offices or have moved to cheaper locations.
Airlines are increasing the FFP (frequent flyers’ program) and share the web site commonly
with e-ticketing to reach customers directly. The airlines resorted to zero per cent commission
in order to cope with rising fuel prices, competition, and other costs.

IATA accredited agents have faced a major setback of loss of revenue due to the practice of
zero commission IATA agents have resorted to the business process outsourcing (BPO) and
other consultancy business. Another challenge is the huge initial investment for running an
IATA accredited agency.

The following risks need to be looked into in the travel agency business.

➢ Expensive car rentals

➢ Online booking
➢ Breakdown of rental duration
➢ Commission cuts for travel agents
➢ Service tax on foreign exchange payments
➢ Staff poaching

The travel agency has certain other risks while running the business. Besides the internal risk
factors like airlines commissions cut and online air ticketing, there are other risk factors like
seasonality concern, political instability, health and security, vehicle parking concern, lack of
sophisticated ground transportation, condition of roads, cancellation and delay of flight
operations, lack of facilities and amenities at the airports, railway stations, and destinations,
environmental pollution, rising inflation, strike and demonstration, rising fuel price, lack of
community support, natural calamity, and compensation are the major socio-political risk
factors.

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 CHAPTER 5
FINDING AND CONCLUSION

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 Finding:
The study will enable the Travel Memoria to decide on the future courses of action regarding
to the role and importance of travel agency in tour products or new branches. It will also
enable them to find out major flows in the functions and their role in travel agency business.
The findings regarding the functions and role of Travel Memoria will enable future
researchers to determine industries that are suitable for the application of such analysis and
industries that are not.

Analysis and interpretation of data:

This study, most importantly, will enable this researcher/student to face graduation
requirement.
 70% Acknowledge that employee behavior is good.
 25%strongly agree with the notion of the packages.
 31%just agree with it. It means 54%are satisfied.
 37%respondents are strongly agreed, and 44% are agreeing with that it is providing
good travel related services.
 According to the statistics collected 65% favored Travel Memoria comparing others.
That is why it is on doing well in industry.

Conclusion:
Travel Memoria Ltd has many objectives which it has attained in a particular period of time.
It uses various tactics to attain its targets. It may be determined that these tactics have been
fulfilled and there is elasticity in policies and strategies, as they transformed with the changes
in the present market conditions and as the objectives. All the observations are done
according to my point of view, so it can be used any policy making, if a company want, then
they can assessment the whole study from the beginning. Business helps anyone to prosper
in life. I hope that this company will achieve high reputation by providing high quality
services.
Tour operators and travel agents have been doing several traditional and modern business
functions to diversify the business. The objective is to directly and indirectly expand the
quantum of business. The major functions of travel agencies and tour operators include travel
information, booking tickets, itinerary preparation, designing of tour packages, travel
documents, insurance, foreign exchange, franchising, conducting tours, marketing and
publicity, research and development, training and development, etc.

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 Reference:

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 Page, S.J. & Dowling, R.K. 2002. Ecotourism. Harlow: Prentice Hall.
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